theres plenty single and double LED's with #44 #47 bases well under a dollar each, I'd totally go that way with it.
doubles being nice under darker colored plastics to help them pop, and casting more light off to the sides too when they have a retro looking bulb-dome on them. hadnt found the #44 #47 LED bulbs I like for replacing #455 blinking bulbs yet, as far as I know they dont list how fast or slow they blink, or 'on vs off' time percentage or ratio.
bright white, warm white, colored, color changing blinking, you can do a lot of things to older machines pretty easy, tasteful or tacky depending on personal opinion more than anything. sometimes color changing LED's mixed in behind backglass or dropped into pop bumpers looks great, and sometimes not! it isnt going to cost a fortune to get a bunch of different LED's to experiment like that with, and once appearance is settled you wont be replacing burned out incandescents on a semi regular basis. if you arrive at custom lighting colors that DO look better they're going to pay for themselves pretty quickly in electricity and labor time saved for changing burnt bulbs anyway. opening everything up to change some bulbs can be a time consuming hassle, some are a real pain to get to.
personally I think its a lot nicer to only have to open up a machine to do some cleaning and waxing, not having to remove plastics etc to change an incandescent thats burned out. backglass with light colored title lettering can sometimes look pretty cool-different backlit with a fast-slow-fade-blink color changing LED, might be worth trying.